Impinj, Inc. (NASDAQ:PI) CEO Sells $219,914.88 in Stock

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 1,504 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.22, for a total transaction of $219,914.88. Following the completion of the transaction, the chief executive officer now owns 331,572 shares of the company’s stock, valued at $48,482,457.84. This represents a 0.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Chris Ph.D. Diorio also recently made the following trade(s):

• On Tuesday, October 29th, Chris Ph.D. Diorio sold 34,474 shares of Impinj stock. The stock was sold at an average price of $201.51, for a total transaction of $6,946,855.74.
• On Monday, October 14th, Chris Ph.D. Diorio sold 1,219 shares of Impinj stock. The shares were sold at an average price of $237.82, for a total transaction of $289,902.58.

Impinj Stock Performance

Shares of PI opened at $147.85 on Friday. Impinj, Inc. has a 1 year low of $78.17 and a 1 year high of $239.88. The company’s 50 day simple moving average is $180.59 and its 200 day simple moving average is $177.03. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 166.12 and a beta of 1.80.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The company had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. During the same quarter in the prior year, the company posted ($0.36) EPS. The business’s revenue for the quarter was up 46.5% compared to the same quarter last year. Equities analysts expect that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PI shares. Susquehanna lifted their price objective on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a report on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating and set a $235.00 price target (up previously from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Evercore ISI reissued an “outperform” rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Lake Street Capital raised their target price on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Cantor Fitzgerald upped their price target on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.60.

Institutional Trading of Impinj

A number of hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in shares of Impinj by 4,013.7% in the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after purchasing an additional 122,579 shares during the last quarter. Virtu Financial LLC acquired a new position in Impinj in the third quarter valued at $1,749,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Impinj during the third quarter valued at about $846,000. Geode Capital Management LLC increased its stake in Impinj by 1.4% during the third quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock worth $117,576,000 after acquiring an additional 7,676 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in Impinj during the third quarter worth about $30,000.

Impinj Company Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company’s platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.